An RESP is a tax-sheltered savings plan designed to help you save efficiently for
a child’s post-secondary education.

Provided certain conditions are met, anyone – parents, guardians, grandparents,
other relatives and friends – can open an RESP account for a child and contribute
up to $50,000 [1] to it. All it takes is your social
insurance number (SIN) and one for the child whose education you are saving for.

Tax-free investment growth

As with a Registered Retirement Savings Plan (RRSP), income earned in an RESP account
is not taxable while it remains in the account. The income earned through an RESP
(not the capital, only the grants and the return earned on the total investment)
is taxable only when it is withdrawn from the account. At that point, it is usually
declared by the student, who generally has little or no taxable income, and therefore
pays a relatively low tax rate. It is important to note, however, that unlike RRSPs,
contributions to an RESP are not tax deductible.

Special government education incentives

Federal and Provincial government grants are available depending on the amount you
contribute and your net family income. In Quebec, for example, the combined grants
can represent at least 30% of the annual contribution, plus certain amounts in the
case of lower-income families. That's like getting a 20-30% return on your investment
right off the bat!

Please be sure to visit the Grants section of this site
for full details.

Not convinced yet? Consider the following scenarios.

Scenario 1: an investor contributes $200/month for 18 years to a non-registered
investment account for a total investment of $43,200.

Scenario 2: an investor contributes the same amount ($200/month for 18 years for
a total investment of $43,200) to an RESP.

Legal notice

This communication does not constitute an offer or a solicitation of any nature
in any jurisdiction in which such an offer or solicitation would not be authorized
or to any person to whom it would be illegal to make such an offer or solicitation.
The information contained in this Web site does not constitute specific advice of
a financial, legal, accounting or fiscal nature concerning investments.

The information contained in this communication is subject to change without notice,
and Services d'investissement FÉRIQUE and Gestion FÉRIQUE may not
be held liable for any inaccuracy or omission in the information provided. The user
expressly acknowledges and accepts that neither Services d'investissement FÉRIQUE,
nor Gestion FÉRIQUE nor their employees or agents may be held liable for
any damage that may have been caused directly or indirectly by the use of information
contained in this site.

Please note: There may be management fees and expenses associated with investment
in the Funds. Management expense ratios vary from one year to another. Please read
the prospectus before investing. Mutual funds are not guaranteed, their values fluctuate
frequently and past performance may not be repeated. FÉRIQUE Funds are distributed
by National Bank Securities Inc., as Principal Distributor, and by Services d'investissement
FÉRIQUE.